Dunedin-based sharebrokers Forsyth Barr is on the market and three parties are understood to be bidding for the business.Questions to ask
The Securities Commission is telling investors to "take a vigorous approach to seeking full information from their financial advisers."
To help this cause the commission, together with the Ministry of Consumer Affairs and the Office of the Retirement Commissioner, have joined forces to produce a brochure detailing questions investors should ask their advisers.
The commission was involved in the recent Consumer magazine survey of advisers in Christchurch and says the standard of disclosure provided by the 16 planners involved was poor, and there were many omissions in the information provided to the investor.
"We think the community is entitled to expect better from the investment advisory industry and should ask for it," commission solicitor Richard Shires says.
Lend Lease tightens grip
Lend Lease's acquisition of a half share of the Kiwi Income Property Trust (KIPT) and Kiwi Development Trusts' management company has also given it first right of refusal on 15.6 per cent of KIPT units held, or controlled by, Toronto-based FCMI Financial Corporation.
FCMI founded KIPT with joint managing directors Richard Didsbury and Ross Green.
Lend Lease has also secured voting rights on those 50 million units, plus on those units held by the directors.
Guardian Trust rewards homeowners
Guardian Trust is offering a discounted one-year fixed interest residential mortgage rate of 9.5 per cent to borrowers with a 50 per cent or greater equity in their property.
The company says it felt it was time to reward homebuyers who had a substantial equity in the homes they were purchasing.
Such buyers reduced inflationary pressures and should be rewarded with a discount to recognise the lower risk they presented, it says.
Meanwhile, Ergo/AMP has reduced its one year fixed rate to 9.75 per cent, yet increased its floating rate from 10.3 per cent to 10.9 per cent.
| « Funds fail to add value | Get your tax questions answered online » |
Special Offers
© Copyright 1997-2024 Tarawera Publishing Ltd. All Rights Reserved